Kildare based BAM Civil Ltd had the third highest turnover of Irish construction companies over the last twelve months, according to a new survey.
The combined turnover of Ireland’s top construction firms has increased by €720 million on last year according to Construction Magazine’s annual Top 50 CIF Contractors listing for 2018.
BAM, registered at Kill, had a turnover of €470m, third highest behind John Sisk (€950m) and Mercury Engineering (€600m).
The annual listing gives a snapshot of the overall growth in Irish construction as it delivers many large scale projects throughout Ireland and the world, bringing foreign direct investment to Ireland and exporting over €1.6bn in construction services.
The Top 50 Irish Contractors reported a combined turnover of €6.72billion over the last 12 months, with €5.1billion of this activity taking place in Ireland and a €1.62billion resulting from exported construction services.
Tom Parlon, Director General, CIF said the industry has “emerged from the depths of the recession leaner, more modern, sustainable, adaptable and resilient. But there are significant improvements, that still need to be made in order to preserve and support our sector’s recovery into the future.
He said they needed the Government to set out an export-led growth strategy for the sector. “We also need to fix our procurement system here at home and ensure the right supports are in place to help build companies of scale. Finally, we must also work to attract workers back into the industry and make the process of moving home from abroad and gaining work in the sector more streamlined.”
Minister of State at the Department of Finance and Public Expenditure and Reform, Patrick O’Donovan, congratulating all the companies, their employees and clients, said that skills shortages and the persistently low margins that are evident in certain sectors are challenges that are particular to the construction industry. “Skills shortages allied with the uncertain global trade situation are likely to increase inflationary pressure in the short to medium term whereas low margins are impacting relationships and payments in the extensive construction supply chain. If not addressed, the capacity for the industry to grow is limited.